Premier Jiang Yi-huah today asked the Financial Supervisory Commission (FSC) to offer more incentives to attract companies from home and abroad to issue bonds in Taiwan—including yuan-denominated ones—to promote the local bond market.
Jiang made the instruction at today's Cabinet meeting after hearing the FSC's report of its plan to bolster development of the domestic bond market. He also demanded the FSC to continue its work on relaxing relevant rules and regulations on the premise that both industry and economic development and protection of investors' interests are taken into account.
"Cross-strait economic and trade ties have become closer in recent years, and with the establishment of a currency settlement mechanism between Taiwan and mainland China in August of last year, Taiwanese demand for yuan assets and hedging products is also getting stronger," said the premier.
He noted the importance of encouraging the issuance of yuan-denominated bonds in Taiwan by domestic and foreign enterprises as a channel of corporate financing and domestic investment and commended the FSC for its efforts in this regard.